Welcome to The Week in Tech, your roundup of the latest top tech news.
This week, we bring you TransferWise’s £280m round, Facebook’s latest quarterly results, bitcoin’s price rally and more.
TransferWise’s £280m round
TransferWise has raised $280m in a round led by Old Mutual Global Investors (OMGI) and IVP, a Silicon Valley Venture fund, which has also invested in Snap, Dropbox and Twitter.
The company, which reached profitability in early 2017, is looking to expand in the APAC region and has plans to launch services in India.
TransferWise’s round was also supported by existing backers Richard Branson, Andreessen Horowitz and Baillie Gifford.
Today’s announcement brings TransferWise’s total raised to date to $397m.
Meet WeWork Labs: the accelerator-focused startup community
Alex Klein’s Kano raises $28m
EdTech hardware startup Kano raised $28m (£21m) in a Series B round led by Thames Trust and Breyer Capital.
Index Ventures, the Stanford Engineering Venture Fund, LocalGlobe, Marc Benioff, John Makinson, Collaborative Fund, Triple Point Capital and Barclays also participated in the round, which includes both debt and equity funding.
The London-based company was co-founded by Saul Klein, his cousin Alex Klein and Yonatan Raz-Fridman.
Kano has created computer coding kits to help children learn to code projects such as Pong, Snake and Minecraft.
EdTech startup Kinteract recieves £1.25m financial backing
CommuterClub gets £2.3m, partners with Revolut
In other news, FinTech startup CommuterClub raised £2.3m in a round led by Wadhawan Global Capital (WGC), an India-based financial services Group.
The London-based company is also backed by angel investors including Peter Jackson, CEO of Betfair; Gavin Casey, the former CEO of the London Stock Exchange; Chris Adelsbach, head of Barclays Techstars, and British tennis player Andy Murray.
CommuterClub seeks to help consumers save money by offering them commuter tickets as a digital subscription service.
Alongside the funding, the company is also announcing a new partnership with Revolut, which will enable the startup to offer rail ticket financing to its customers.
On-demand removals marketplace Shift secures £2.5m
Snatch lands £4.4m
Snatch, an augmented reality treasure hunt app, scored £4.4m in Seed funding in a round led by Initial Capital.
Brent Hoberman’s First Minute Capital, CrunchFund, Simon Equity Partners, Cassius Family Fund, Hanson Asset Management, Velocity Technology Fund and Silicon Valley Bank also participated.
Snatch raised $2m (£1.5m) worth of venture debt as part of the round.
Joe Martin, founder and CEO of Snatch, said he was thrilled with the backing his company had received.
London’s Sunlight closes Seed
Sunlight, a London-based startup, closed a £500,000 Seed round from Speedinvest, Seedcamp and Annection.
The learning and development platform, which seeks to allow employers to create an engaging work culture by enabling staff to take control of their professional development, says it is already working with Wonderbly, Skimlinks and Typeform.
Founded in March last year by siblings Carlos and Juan Lagrange, Sunlight has so far raised £600,000.
ContentCal gets additional £470K
London-based social media and content planning tool ContentCal has raised a further £470,000 from investors including James Murray, who sold AIM-listed businesses Alternative Networks.
With this round, ContentCal has brought its total raised to date to £1.05m.
The money will be used to drive further growth and prepare for expansion into global markets.
Set up under two years ago, ContentCal now employs 26 people and is now being used by clients including Honda, Oxford University and Lebara Mobile.
Dotmatics raises from SEP
Dotmatics, a scientific informatics software provider headquartered in Hertfordshire, raised investment from Scottish Equity Partners (SEP).
The terms of the deal are not being disclosed, but the investment is being made by SEP V, a £260m growth stage fund which typically invests up to £25m.
Founded in 2005, Dotmatics has a broad range of clients operating across industries such as pharmaceuticals, biotech, academia, food, beverage, oil and gas.
According to the company, the funding will be used to invest in product innovation as well as to expand operations in each of the firm’s key geographies.
Facebook’s Q3 results
Tech giant Facebook reported third-quarter profit and sales that seemingly exceeded Wall Street expectations.
Its shares, however, decreased in value after the company said on a conference call that expenses next year would rise by 45 to 60%.
Soon after the results were released, Facebook’s shares traded at a maximum of $185 per unit, but then fell by as much as 2% to nearly $179.
Overall, Facebook’s shares have increased by over 50% this year.
Bitcoin hits another record
Bitcoin has been making headlines yet again. The cryptocurrency hit another all-time high yesterday when it reached the $7,000 mark.
The price rally began on Wednesday, coinciding with the Chicago Mercantile Exchange’s announcement about its plans to offer bitcoin futures.
Trump’s Twitter account goes down
US President Donald Trump’s Twitter account was offline for 11 minutes.
The account, which has now been restored, was deactivated by an employee, serving their last day at the microblogging platform.
Twitter has launched an investigation to try and find out what happened and why.
Download of the Week
CalenGoo is a flexible and extensive calendar app with integrated task management.
The app is designed to make it easier and faster to work with your calendar on your phone.
The burger emjoi sparked some controversy online this week.
In case you didn’t know, Google’s version of the emoji on Android places the cheese beneath the burger pattie and above the bun, while Apple places it on top.
A writer and media analyst sparked the debate, that ended up going viral and was picked up by none other than Google CEO Sundar Pichai, who responded in good humour.
Will drop everything else we are doing and address on Monday:) if folks can agree on the correct way to do this! https://t.co/dXRuZnX1Ag
— Sundar Pichai (@sundarpichai) October 29, 2017
That’s all for this week … see you next Friday!